Segall Bryant & Hamill LLC Buys New Shares in PHINIA Inc. (NYSE:PHIN)

Segall Bryant & Hamill LLC acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,320 shares of the company's stock, valued at approximately $1,073,000. Segall Bryant & Hamill LLC owned approximately 0.06% of PHINIA as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PHIN. Jacobs Levy Equity Management Inc. boosted its stake in PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company's stock worth $16,839,000 after buying an additional 424,168 shares during the last quarter. Great Lakes Advisors LLC grew its position in PHINIA by 1,537.3% in the second quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company's stock worth $13,328,000 after acquiring an additional 317,935 shares during the period. American Century Companies Inc. increased its stake in PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company's stock worth $39,718,000 after acquiring an additional 251,650 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of PHINIA in the 3rd quarter valued at $10,504,000. Finally, Dimensional Fund Advisors LP boosted its stake in PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company's stock worth $51,869,000 after buying an additional 215,150 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 target price for the company. in a report on Wednesday, September 25th. UBS Group assumed coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price objective for the company.

PHINIA Stock Up 1.6 %

NYSE:PHIN traded up $0.87 during midday trading on Friday, hitting $55.06. 454,962 shares of the company were exchanged, compared to its average volume of 443,995. The company has a fifty day simple moving average of $47.86 and a 200 day simple moving average of $45.19. The company has a market capitalization of $2.32 billion, a PE ratio of 23.63 and a beta of 0.86. PHINIA Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $55.54. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.38. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.82%. PHINIA's dividend payout ratio is currently 42.92%.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.